Latest news with #KeralaStateGoods&ServicesTaxDepartment
Time of India
2 days ago
- Business
- Time of India
United Breweries receives Rs 18.60 cr GST order
Liquor major United Breweries on Wednesday said that the company has received orders and demand notices from the Kerala State Goods & Services Tax Department , Palakkad. The demand was raised alleging non-payment of turnover tax on the sale of beer, the company said in an exchange filing. The total tax demand stands at Rs 18.60 crore plus applicable interest and pertains to FY 2022-23 and 2023-24. United Breweries shares were trading at Rs 2059.85 apiece on the BSE, down 0.26 per cent in the final session of Wednesday. The maker of Kingfisher beer said that it has made adequate provision in the financials for the above demand, hence it will not have any material impact. "The Company is exploring appropriate legal remedies against the said orders," United Breweries said.
Time of India
2 days ago
- Business
- Time of India
United Breweries receives Rs 18.60 cr GST order
Liquor major United Breweries on Wednesday said that the company has received orders and demand notices from the Kerala State Goods & Services Tax Department, Palakkad. The demand was raised alleging non-payment of turnover tax on the sale of beer, the company said in an exchange filing. The total tax demand stands at Rs 18.60 crore plus applicable interest and pertains to FY 2022-23 and 2023-24. United Breweries shares were trading at Rs 2059.85 apiece on the BSE, down 0.26 per cent in the final session of Wednesday. The maker of Kingfisher beer said that it has made adequate provision in the financials for the above demand, hence it will not have any material impact. "The Company is exploring appropriate legal remedies against the said orders," United Breweries said. Economic Times WhatsApp channel )
Business Upturn
2 days ago
- Business
- Business Upturn
United Breweries receives Rs 18.6 crore tax demand notice from Kerala GST department
By Aditya Bhagchandani Published on June 11, 2025, 13:40 IST United Breweries Limited informed the stock exchanges on Wednesday that it has received tax demand orders from the Kerala State Goods & Services Tax Department, Palakkad, amounting to Rs 18.6 crore, excluding applicable interest. The orders were issued under Section 17(3) of the Kerala General Sales Tax Act, 1963, for the financial years 2022–23 and 2023–24. The demand notice alleges non-payment of turnover tax on the sale of beer during the mentioned financial years. The company received the communication from the Deputy Commissioner of State Tax on June 10, 2025. In its exchange filing, United Breweries stated that it has already made adequate provisions for the demand in its financial statements and, therefore, does not anticipate any material impact on its financial or operational performance. The company also noted that it is evaluating legal remedies against the order. Meanwhile, the company's shares were trading slightly positive in Wednesday's session despite the development, reflecting investor confidence in the management's ability to handle the matter. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
